Vanguard Emerging Markets Government Bond ETF (VWOB) Performance
VWOB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.2% since Dec 31, 2025
- 1 year
- +0.1% total return
- 5 years
- +1.7% a year
- 10 years
- +2.7% a year
- Since first price
- +3.3% a year since 2013
VWOB trailing returns vs AGG, TLT, SPY
| Period | VWOB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −1.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.6% | −3.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.2% | −5.0% | −1.5% | −3.8% | +7.8% |
| YTD | −1.2% | −5.5% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.1% | −5.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +32.2%+9.7%/yr | +10.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +8.8%+1.7%/yr | −18.1% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +30.5%+2.7%/yr | −21.4% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJun 4, 2013 | +53.8%+3.3%/yr | −20.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VWOB vs AGG
From Jun 4, 2013: VWOB grew to $15,383, AGG to $12,689.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VWOB returns by calendar year
9 of 12 full years positive. Best 2019 (+14.5%), worst 2022 (−17.4%). 2026 is year to date.
VWOB annual returns table
| Year | VWOB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.2% | −5.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +13.5% | −4.6% | +7.2% | +4.3% | +17.7% |
| 2024 | +5.2% | −3.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +10.7% | −7.7% | +5.7% | +2.8% | +26.2% |
| 2022 | −17.4% | −24.7% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.8% | −6.4% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.6% | −25.3% | +7.5% | +18.2% | +18.3% |
| 2019 | +14.5% | −2.0% | +8.5% | +14.1% | +31.2% |
| 2018 | −2.9% | −5.6% | +0.1% | −1.6% | −4.6% |
| 2017 | +8.4% | −2.0% | +3.6% | +9.2% | +21.7% |
| 2016 | +9.9% | −6.0% | +2.4% | +1.2% | +12.0% |
| 2015 | +1.6% | −5.1% | +0.5% | −1.8% | +1.2% |
| 2014 | +4.2% | −7.7% | +6.0% | +27.3% | +13.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VWOB largest drawdowns
Now 3.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 2, 2021 | −27.0% | Oct 20, 2022 | Jun 30, 2025 | 1.1 years | 3.8 years |
| Mar 4, 2020 | −25.3% | Mar 18, 2020 | Sep 2, 2020 | 14 days | 6 months |
| Aug 27, 2014 | −7.7% | Dec 16, 2014 | Apr 8, 2015 | 4 months | 7 months |
| Dec 30, 2020 | −6.9% | Mar 8, 2021 | Aug 30, 2021 | 2 months | 8 months |
| Jun 4, 2013 | −6.8% | Jun 24, 2013 | Feb 28, 2014 | 20 days | 9 months |
| Sep 7, 2016 | −6.0% | Nov 14, 2016 | Apr 12, 2017 | 2 months | 7 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
VWOB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +8.5% | +1.3% | +2.5% | +3.6% |
| Volatility (annualized) | 7.4% | 10.2% | 9.4% | 8.6% |
| Sharpe ratio | 0.56 | -0.17 | 0.07 | 0.25 |
| Sortino ratio | 0.88 | -0.24 | 0.09 | 0.35 |
| Best month | +6.3% | +9.5% | +9.5% | +9.5% |
| Worst month | −3.8% | −6.5% | −12.9% | −12.9% |
| Best 12 months | +19.0% | +19.0% | +19.0% | +19.0% |
| Worst 12 months | −0.0% | −23.1% | −23.1% | −23.1% |
| Positive months | 69% | 58% | 60% | 61% |
| Beta vs S&P 500 | 0.41 | 0.51 | 0.43 | — |
| Correlation with S&P 500 | 0.70 | 0.78 | 0.70 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VWOB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 149 | −23.1% | +5.5% | +19.0% | 77% |
| 3-year (a year) | 125 | −6.8% | +4.8% | +12.4% | 75% |
| 5-year (a year) | 101 | −2.4% | +2.2% | +6.9% | 86% |
| 10-year (a year) | 41 | +1.7% | +2.9% | +4.2% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
VWOB performance overview
Vanguard Emerging Markets Government Bond ETF (VWOB) returned +0.1% over the past year and +2.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +3.3% a year, turning $10,000 into about $15,383. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −27.0%, from Sep 2, 2021 to Oct 20, 2022, and it took 2.7 years to get back to the old high. VWOB finished 9 of its 12 full calendar years with a gain; the best year was 2019 (+14.5%) and the worst 2022 (−17.4%). Volatility has been 8.6% a year.
Related: VWOB chart, VWOB dividends, VWOB bond profile. See the VWOB overview for the latest quote and fund facts.
VWOB performance FAQ
What is the VWOB return over the past year?
VWOB returned +0.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.5%.
What is the average annual return of VWOB?
VWOB has returned +1.7% a year over 5 years, +2.7% a year over 10 years, +3.3% a year since June 4, 2013 (total return, distributions reinvested).
How much would $10,000 invested in VWOB be worth?
$10,000 invested in VWOB at its first recorded close on June 4, 2013 would be worth about $15,383 on October 23, 2026 with distributions reinvested.
What was the worst year for VWOB?
The worst calendar year was 2022, with a total return of −17.4%. The best was 2019 at +14.5%.
What is the biggest drawdown of VWOB?
The largest peak-to-trough decline was −27.0% between September 2, 2021 and October 20, 2022. It recovered to the old high on June 30, 2025, 2.7 years after the bottom.
How volatile is VWOB?
Over the past 3 years VWOB had an annualized volatility of 7.4% and a Sharpe ratio of 0.56 (excess return over 1–3 month T-bills per unit of risk).